Dow rises more than 400 points, but Wall Street clinches biggest weekly loss since March; European stocks close slightly higher following Thursday’s sharp sell-off; BELEX15 ended Friday with light 0.19% loss; Standard and Poor’s confirms Serbia’s stable outlook
Stocks rose on Friday in volatile trading as traders tried to regain some of the sharp losses from the previous session. The major averages, however, clinched their worst week since March as traders took profits and grew nervous of a resurgence in Covid-19 cases.
The Dow Jones Industrial Average gained 477.37 points, or 1.9%, to finish the day at 25,605.54. The blue-chip index had traded over 800 points higher earlier in the day. The S&P 500 rose 1.31% to 3,041.31 while the Nasdaq Composite added 1% to close at 9,588.81.

European markets closed slightly higher on Friday, attempting to recover from the previous session’s sharp sell-off.
The pan-European Stoxx 600 closed 0.1% higher provisionally, with most sectors and major bourses in positive territory.
Thursday saw the European blue chip index plunge 4% after an economic reality check from the U.S. Federal Reserve and concern over a second wave of coronavirus infections rocked sentiment.
Games Workshop shares jumped over 8% after the British war game manufacturer forecast sales of £270 million ($340.24 million) for the year ended May 31.

BELEX15 was down only 0.19%, as Belgrade Airport and NIS lost 1.6% and 0.97%, respectively, while Komercijana added 2.3%. It seems that global volatility has not affected Serbian stock market at some larger extend. The most active name was NIS as it generated most of already poor market trade volume.
Standard and Poor’s (S&P) rating agency maintained Serbia’s rating at BB+, with stable outlook going forward. The stable outlook was kept despite heightened risks due to the COVID-19 pandemic, owing to a drastic increase in Serbia’s resilience relative to one decade ago. S&P stressed Serbia’s improved resilience to international shocks due to the greatly fortified FX reserves and fiscal space created over the past half-decade, which enabled a prompt response of economic policy makers during the pandemic outbreak.
Source: CNBC, Ilirika